The total value of the housing market now exceeds $1 trillion in eight US cities, doubling from just four cities last year...San Diego and Seattle are close behind, with total home values of approximately $987 billion and $971 billion, respectively.
The report, which analyzed Redfin's value estimates for more than 95 million US residential properties in June 2024...When supply doesn't keep up with demand, prices are driven higher...Home prices surged during the pandemic...Americans grapple with one of the most unaffordable housing markets...
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